Ian King Says Robinhood Could Help Cryptocurrency Values Soar

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Ian King Robinhood cryptocurrency trading
Ian King Says that Robinhood, a new cryptocurrency trading app can help cryptocurrency values soar across the board.

Well-known cryptocurrency investor Ian King has worked in the financial sector for more than 20 years. He recently made a number of observations about the digital currency market’s great potential for growth. Ian King highlighted a popular mobile app called Robinhood. Like the British folktale character Robin Hood, this software has the ability to help poor people become much wealthier.

Robinhood’s Advantages

Three million people use the app to trade stocks without paying any commissions. It strongly appeals to millennials who own smartphones. Robinhood has added a separate service that allows users to conduct cryptocurrency transactions for free. Members can buy and sell bitcoins as well as Ethereum. This system will significantly benefit small investors, but it could have a major negative impact on companies that offer fee-based services.

One million people quickly registered to use Robinhood’s cryptocurrency trading program when it became available in early 2018. On the other hand, its top competitor already has 13 million customers. Both Coinbase and Robinhood have existed for about 60 months, but Robinhood focused on stock trading during much of this period. Nevertheless, Ian King predicts that the lure of commission-free transactions will enable the app to swiftly surpass its larger rival.

Coinbase vs. Robinhood

Banyan Hill Publishing’s cryptocurrency specialist has praised Coinbase in the past. He noted that it greatly reduced the complexity of bitcoin trading; this helped it become iTunes’ most popular application. However, King warns that Coinbase’s commissions have become unnecessarily burdensome. Investors pay fees of up to 4 percent on each trade. This cost can easily turn into a substantial sum when people conduct numerous large transactions.

For example, perhaps an investor decides to sell $800 worth of bitcoins. Coinbase’s fee would probably exceed $30. Robinhood may force this company to decrease its commissions or offer additional benefits. It has introduced no-fee cryptocurrency trading services in five states. They include Missouri, California, New Hampshire, Montana and Massachusetts. This decision helped Robinhood increase its total membership by about one-quarter.

Market Predictions

Ian King has exhaustively researched the cryptocurrency market. This helps him trade digital currencies profitably and provide insightful advice to readers. He recently authored articles on relevant trading techniques, cryptocurrency trends and fraudulent investment schemes. King’s writings have appeared on several popular websites. They include Investopedia, TalkMarkets and Medium.com. The financial expert’s research empowered him to thoroughly analyze the market and make knowledgeable predictions about its future.

For instance, Ian King claims that cryptocurrencies have tremendous growth potential because relatively few people own them. He points to a recent survey of American adults. It found that just five out of every 100 citizens possess cryptocurrency funds. At the same time, almost three-fifths of the respondents had been exposed to news reports regarding bitcoin trading. More people will start to make investments as media outlets continue to raise awareness about these currencies.

Low Ownership Rate

More than half of the American public owns shares in corporations. Even more people indirectly possess stocks because they have IRAs or similar accounts. Despite the lengthy discussions about bitcoin on financial TV channels and various radio programs, it’s still a niche investment that has yet to enter the mainstream. Nonetheless, Ian King believes that far more individuals will invest in cryptocurrencies after they learn about the benefits.

Many people don’t own bitcoins because they have yet to fully understand how the system works. The investment guru notes that this type of digital currency has existed for less than a decade and didn’t become well-known until recently. Potential investors often become confused when they hear about cryptography or bitcoin “mining.” It’s far easier to explain tangible investments like gold and petroleum products.

Universities only began teaching students about cryptocurrencies a short time ago. Some bitcoin owners still don’t truly comprehend how transactions take place. However, Ian King predicts that numerous Americans will start using and trading digital currencies in the near future. After all, there was a time when few people could grasp the complexities of the internet or cellular communications. This situation changed fairly quickly.

Education Options

Publishers continue to introduce new books on cryptocurrencies. More and more colleges are launching relevant classes. Ian King is working to create his own educational course about this type of investment. Traders will benefit from his experience as an early bitcoin investor who achieved stunning profits. Meanwhile, Robinhood has reduced the cost of trading and simplified transactions. King believes that these trends will cause bitcoin’s ownership rate and value to rise precipitously.

Ian King previously found employment in several different parts of the finance sector. He was involved in option, mortgage bond and credit derivative trading. Nonetheless, he feels that none of these investments can match the growth or profit potential of cryptocurrencies. Bitcoin and its rivals provide the greatest financial opportunity available today, according to King. Traders can learn more by reading his columns in the Sovereign Investor Daily newsletter.

Related: Ian King’s New Crypto Selection That Will Be Bigger Than Bitcoin

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